Okta is a privately owned company headquartered in the US. Founded in 2009, it employs approximately 7,650 individuals. The company functions as a digital identity provider, leveraging its Okta Identity Cloud platform to enable organizations to securely connect their personnel to various technologies.
Okta stock plummeted 8.4% on February 20, 2026, reaching a 52-week low of $73.74, as the cybersecurity sector reacted to Anthropic's 'Claude Code Security' and a broader "AI scare trade." Okta's shares, alongside others like CrowdStrike, experienced a significant selloff due to acute market anxiety over AI's disruptive potential to established software business models, with the company seeing a 9.18% drop that day. While institutional investors like Vanguard showed buying activity, insiders sold $3.39 million in shares, and options data indicated aggressive bearish positioning. Previously, on February 19, Okta Senior Business Value Manager, Hermano, highlighted Fine-Grained Authorization (FGA) as a strategy to transform security requirements into revenue drivers for B2C use cases within streaming, gaming, and e-commerce.
Subscribe for full access to Okta's products in full detail 
